Bitcoin can be useful for a troubled economy

[romero121]

in 2017, bitcoin is indeed a way for people with economic problems because this year there have been many people who have benefited so much from bitcoin that many people have become rich and successful in the crypto world

Only on 2017 ? What about on other years ?  The previous and current years are also profitable  and if the market dumps that does not mean that your earning capabilities will also be lessen  .   the dump of the price is not a hindrance .  you can still earn if you are wise and knowledgeable person  .  bitcoin is only a currency and it didnt mean to rescue a troubled country  . the government and the people living on a country are the ones that dictate their future not bitcoins or cryptos .

Unlike the price, the technology is the one that is making a change upon rescuing the countries from economic downfall. Very few countries have known better about the need of such an evolutionary technology in the economic crisis rescue. Till date countries have not adopted it in a perfect way to eliminate economic downtime. Hope this will change with more countries getting into the adoption of bitcoin for their economic betterment.

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[BennyK]

Of course, to some extent, Bitcoin can help to boost the economic status of a country through job creation, investment opportunities, financial satisfaction etc. The fact is, the economy of a country is influenced by many factors and to reach a complete upliftment, the governments of various countries must work towards the things that uplift the economy of their countries which may include job creation, increasing exportation and decreasing importation, training professional working force etc.

[demonz666]

Goldman Sachs: Bitcoin can be useful for a troubled economy

According to the report of Goldman Sachs, Bitcoin and other crypto-currencies can be a good alternative to the national currency for countries with an unstable economy.

 Analysts at Goldman Sachs Zack Pandle and Charles Himmelberg said that digital currencies and, in particular, Bitcoin, can become a viable means of payment in countries where traditional money is not sufficiently provided.

Goldman Sachs experts: crypto-currencies can help the troubled economy

yes you are right especially for people who do not have work and income. bitcoin can be used as a job opportunity. and the highest number of unemployed people is usually in third countries. so I'm sure when bitcoin is legalized in these countries, bitcoin can help solve their economic problems.

[Victorycoin]

yes, it is very good for countries with economic conditions that are not stable or often have hyperinflation. the way it works is that bitcoin or other crypto stands alone is not tied to the bank, so it determines its own exchange value, so it can minimize the occurrence of excessive inflation.

yes right like in Venezuela, Africa is an economically unstable country.
but Venezuela does not use bitcoin to become their currency. and now I hear their currency is not selling at all

There might have few other countries I think it is about 4 countries who does not allow bitcoin or any crypto. There might have more countries who disallowed their people to invest on crypto, I am not sure how many countries there are.

[trimulia]

in 2017, bitcoin is indeed a way for people with economic problems because this year there have been many people who have benefited so much from bitcoin that many people have become rich and successful in the crypto world

hahaha that's true and surely you don't want to say that 2018 is a bad year in the bitcoin economy, at least they were lucky to use bitcoin before 2018

[Xampeuu]

yes, it is very good for countries with economic conditions that are not stable or often have hyperinflation. the way it works is that bitcoin or other crypto stands alone is not tied to the bank, so it determines its own exchange value, so it can minimize the occurrence of excessive inflation.

yes right like in Venezuela, Africa is an economically unstable country.
but Venezuela does not use bitcoin to become their currency. and now I hear their currency is not selling at all

There might have few other countries I think it is about 4 countries who does not allow bitcoin or any crypto. There might have more countries who disallowed their people to invest on crypto, I am not sure how many countries there are.

of course they have a reason not to legalize crypto. but for Venezuela, their country within the limits of destruction and inflation has soared, so that crypto is taken to overcome the country's currency that has no value.

[Babylon]

in 2017, bitcoin is indeed a way for people with economic problems because this year there have been many people who have benefited so much from bitcoin that many people have become rich and successful in the crypto world

hahaha that's true and surely you don't want to say that 2018 is a bad year in the bitcoin economy, at least they were lucky to use bitcoin before 2018

2018 was not a bad year for bitcoin because it is a good opportunity for all of the people because they can buy bitcoin at a pretty low price compare than before. Bitcoin is always giving opportunities for both sellers and buyers and it also useful for troubled economy countries because it can easily beat inflation.

[sHeRiLyN1618]

Of course crypto currency is very useful to overcome these conditions. This has been proven when Venezuela adopted the crypto currency that economic development in the country is running well.

[Fortify]

I'd have to say that bitcoin can have the opposite affect on a troubled economy. It makes transactions untraceable and actually drains money away from the central bank, who can no longer tax it. It's questionable whether it actually helps citizens, on the one hand their government has less money to improve public services but on the other it can keep money out of the hands of corrupt government officials.

[rika0223]

Yeah, True indeed. Bitcoin and other altcoins is very useful to countries with troubled economy most especially on 3rd world countries where means and outlet of money is rare.

strongly agree with what you are conveying, but keep in mind the issue of legality and technological development in the country is very influential too, and the possibility also with the development of technology can make things happen

[mersal]

Yes definitely Bitcoin is a life changing opportunity and it will be only used in difficult situation so I think the country was also in difficult situation a useful things a bitcoin will helpful for taking the care of the economy to be very useful and more better than before that's why it will be needed for the future.

[Adriano2010]

I also think bitcoin can be a life changer and can also help economy on a country, let say a lot of people from a country have bitcoin and when the bitcoin grow they sell it and get fiat money and buy things with, then they help economy.

[Pattart]

I also think bitcoin can be a life changer and can also help economy on a country, let say a lot of people from a country have bitcoin and when the bitcoin grow they sell it and get fiat money and buy things with, then they help economy.

from that fact we know that crypto gives users the opportunity to profit and get rich. many people who get jobs in crypto and are free from unemployment, crypto is much more helpful for solving the economic problems of its users

[adamlillian]

Goldman Sachs: Bitcoin can be useful for a troubled economy

According to the report of Goldman Sachs, Bitcoin and other crypto-currencies can be a good alternative to the national currency for countries with an unstable economy.

 Analysts at Goldman Sachs Zack Pandle and Charles Himmelberg said that digital currencies and, in particular, Bitcoin, can become a viable means of payment in countries where traditional money is not sufficiently provided.

Goldman Sachs experts: crypto-currencies can help the troubled economy

it is not only good in the face of payment, it also helps a country to reduce inflation. in Venezuela there is a huge inflation and people have used their money to buy many BTC and coins to hold. because the supply is limited and therefore they will not have a nightmare called "inflation" anymore.

[playboy654]

The first and foremost thing that I haven't think ok about the the benefits of but kind was it will be helpful for the difficulties in the economy to be solved and the abilities also that for cryptocurrency to get the position to normal and I think it will definitely used in troubled situation.

[33bitcoin]

Its clear that countries like Venezuela can greatly benefit from crypto.  Trusting government in those types of countries is out the window with their ridiculous money printing habits. 

[Victorycoin]

Its clear that countries like Venezuela can greatly benefit from crypto.  Trusting government in those types of countries is out the window with their ridiculous money printing habits. 

Not only Venezuela but also a lot of country who will be benefited for the crypto. And from bitcointalk indonesian, indian. philipines, bangladeshi and many more countries are getting a good income. So they are getting benefit by the crypto.

[iv4n]

Its clear that countries like Venezuela can greatly benefit from crypto.  Trusting government in those types of countries is out the window with their ridiculous money printing habits. 

Not only Venezuela but also a lot of country who will be benefited for the crypto. And from bitcointalk indonesian, indian. philipines, bangladeshi and many more countries are getting a good income. So they are getting benefit by the crypto.

Economy can benefit if you stop government to stealing money. Open source means they will not be able to hide their mistakes, bribes, to make it simple they will not be able to deceive people, like they are doing now. Venezuela is in the big financial crisis, in Indonesia, India and other countries you mentioned there are many poor people who live on the edge of existence, it`s normal that in this countries people seek for faster changes.
And changes are coming for all of us, no matter where we live.

[senne]

As we all know that global economy isn't in a good health at present. Recently, we saw treasury yield curve getting inverted. Last time it happened, we saw 2008 crisis in an year. People are expecting same this time as well. But this time we have cryptos which are pretty much unrelated to the financial instruments. People can jump in cryptos in case of global meltdown. So yes, cryptos can be alternative in case of troubled economy.

[Mr.grin]

As we all know that global economy isn't in a good health at present. Recently, we saw treasury yield curve getting inverted. Last time it happened, we saw 2008 crisis in an year. People are expecting same this time as well. But this time we have cryptos which are pretty much unrelated to the financial instruments. People can jump in cryptos in case of global meltdown. So yes, cryptos can be alternative in case of troubled economy.

I think this really really helps economic problems. however, some parties see that this can also worsen the economy. but, I myself feel that, using bitcoin well, and correctly, can help economic problems. therefore, several major countries support this development.